TUCSON, Arizona — ABI Multifamily, the Western US’s leading multifamily brokerage and advisory services firm, is pleased to announce the $1.85 million / $57,813 per unit sale of the 32-Unit Villa Delano Apartments at 123 West Delano Street in Tucson, AZ.

The property is a garden style apartment community originally built in 1980 of frame/stucco construction and sits on 1.4-acres of land near the intersection of Fort Lowell and Stone Ave.  Villa Delano has four, 2-story buildings featuring all 2-bedroom, 2-bath units with a weighted average size of 878-square-feet.  The property also features a community swimming pool, BBQ grill area, and laundry facility.

“The Buyer was in search of a stable asset with upside potential,” states Lance Parsons, Senior Vice President at ABI, who represented the Seller.  “The entire Downtown/University area submarket has witnessed sustained private and public investment over the last several years.  The Buyer hopes to capitalize on this growing trend.”

The Buyer in this transaction is a private individual based in Arizona.

The Seller in this transaction is a private individual based in Colorado.

ABI Multifamily’s Tucson office, and the multifamily brokerage team of Lance Parsons, Jonathan Ibrahim and Ryan Kippes, represented the Seller in this transaction.

For more information, Parsons should be reached at 520.265.1945,  Ibrahim is at 520.265.1127 and Kippes can be contacted at 520.265.1895.

TUCSON, Arizona – ABI Multifamily, a brokerage and advisory services firm that focuses exclusively on apartment investment transactions, announced the $1.5 million sale ($46,875 per unit / $53.38 PSF) of the 32-Unit Villa Delano Apartments at 123 W Delano Street in Tucson.

The property, originally built in 1980, sits on nearly 1.4-acres of land near the intersection of West Fort Lowell and Oracle Roads; with 4 total buildings, and features all spacious 2-bedroom, 2-bath units with a weighted average size close to 900-square-feet. Unit features include private balconies, fireplaces, vaulted ceilings and skylights (select units).

“The buyer was in search of a stable asset with upside potential,” states Lance Parsons, Senior Vice President at ABI, who co-represented the buyer and seller with Ryan Kippes, Vice President at ABI. “This pride of ownership, one owner property, is located in the middle of all the major economic development occurring in the Central Tucson/University Submarket, which includes: Comcast’s new 1,100 person call center to Caterpillar’s new Downtown Regional Headquarters to World View’s Space Port project. In addition to tremendous economic activity, the property features all large 2-bedroom units which is a highly sought after unit type for both renters and investors.”

The buyer in this transaction is a private individual based in Colorado.

The seller in this transaction is Tucson-based Vasquez Construction Company.

The ABI Multifamily brokerage team of Lance Parsons and Ryan Kippes represented both buyer and seller in the transaction.

For more information, Parsons should be contacted at 520.265.1945 and Kippes can be called at 520.265.1895.